World oil prices tumble on US economic gloom

LONDON, October 30, 2008 (AFP) - Oil prices slipped back on Thursday in volatile trade, reversing early gains as the market reacted to news of shrinking economic growth in the United States, the world's top energy consumer.

An overnight cut in US interest rates, along with a similar move in China, had earlier bolstered prices on the view this action would bolster demand in two crucial markets.

online pharmacy buy abilify with best prices today in the USA

buy vibramycin online no prescription pharmacy

New York's main contract, light sweet crude for December delivery was down 2.

04 dollars to 65.46 dollars per barrel.

London's Brent North Sea crude for December lost 2.

buy elavil online no prescription pharmacy

buy ventolin online buy ventolin online no prescription
21 dollars to 63.26 dollars.

The US economy contracted at a 0.3 percent pace in the third quarter as a global credit crunch saw consumers and businesses cut back on spending.

online pharmacy buy diflucan with best prices today in the USA

The decline, not as steep as the 0.5 percent annualized drop expected by private economists, comes amid mounting expectations of a sharp falloff in the US economy amid the worst banking and financial crisis in decades.

online pharmacy buy spiriva inhaler with best prices today in the USA

buy antabuse online no prescription pharmacy

The news rang alarm bells in the oil market because the United States is the world's biggest energy consumer, followed by number two China.

"The modest contraction in activity in the third quarter marks the real start of what is likely to be a deep

Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x